Author: FX
On the day:S&P 500 +0.1%Nasdaq Comp +0.1%DJIA flatRussell 2000 +1.2% Toronto TSX Comp +0.6%On the week:S&P 500 +2.2%Nasdaq Comp +2.4%DJIA +1.9%Russell 2000 +5.3% Toronto TSX Comp +2.6%That’s a nice weekly gain for the Russell 2000 but it’s a long way to go to get back to the 2021 highs. This article was written by Adam Button at www.forexlive.com. Source link
We had a jam-packed economic calendar this week, and it seems like broad market behavior was once again mainly dictated by inflation updates and its influence on monetary policy sentiment. The main event stealing the spotlight was the U.S. CPI update, basically setting the vibe for the entire financial dance floor like a DJ—shaping not just broad risk sentiment but also the U.S. dollar and bond yield sentiments throughout the week. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides…
AI imageThe upcoming week features a series of significant economic releases, auctions, and reports that market participants will be watching closely.Monday, November 20 The week kicks off with a Treasury auction of 20-year securities worth $16 billion, an event that will give us insights into market demand for long-term government debt. It comes in the aftermath of last week’s terrible 30-year sale.Tuesday, November 21 At 8:30 AM, we’ll see the release of the Chicago Fed National Activity Index, a comprehensive measure of overall economic activity and related inflationary pressure. Later, a 2-year Treasury note auction for $26 billion is set…
Share: The EUR/USD is drifting higher in Friday trading, clipping into 1.0900. Markets are tilting risk-on as investors re-up on bets that the Fed is done with rate hikes. Investors to dig into the Fed’s Meeting Minutes due next Tuesday. The EUR/USD clipped into the 1.0900 handle late Friday to round out a trading week that saw an early rally into the 1.0880 region after catching a lift from the week’s opening bids near 1.0680. Forex Today: Worst week since July for the Dollar US inflation figures softened noticeably this week, driving market sentiment back into the top…
Share: The DXY Index stands at 103.90, seeing losses of around 0.40% and tallying a 1.60% weekly decline. Investors continue to digest the data reported throughout the week. The combo of cooling inflation and the labor market points to the Fed not hiking anymore. Fed’s Susan Collins was seen as hawkish on Friday. At the end of the week, the US Dollar Index saw red and declined to 103.90 to close a 1.60% losing week. Soft inflation figures and weak economic activity data from the US were mainly responsible for the Greenback’s decline. As the United States economy…
The Baker Hughes weekly rig count:Oil rigs +6 to 500Gas rigs, -4 to 114Total rigs +2 to 618The price of crude oil is trading up $2.91 at $76.00. That is up 3.98% on the day. The price is trading at session highs. The low reached $72.79. This article was written by Greg Michalowski at www.forexlive.com. Source link
Share: Mexican Peso’s advance against the US Dollar halts, with USD/MXN bouncing from recent lows despite broad-based USD weakness. Banxico officials hint at a less restrictive monetary policy yet suggest gradual rate cuts. Upbeat US economic data and Federal Reserve officials’ resistance to early rate cuts propelled the USD/MXN up move. Mexican Peso (MXN) trims some of its weekly gains against the US Dollar (USD) even though the stock market in the United States (US) portrays a risk-on mood. Investors are pricing the Federal Reserve (Fed) to cut rates for the first half of 2024, though it failed…
Share: Economists at ING are bullish on the NZD/USD and are interested in whether the new government changes the Reserve Bank of New Zealand’s remit – a potentially bullish factor for the Kiwi. New government, higher rates? The New Zealand Dollar should benefit like AUD from a gradual optimistic rerating of growth expectations in China. The recent change in government can have big implications for the RBNZ policy. The new coalition will almost surely be led by the National Party, which promised less spending than the previous Labour-led government, but also tax cuts (which are inflationary). More importantly,…
Cardiff Lexington announces reduction of convertible debt balance Source link
EUR/USD, PRICE FORECAST:MOST READ: Oil Latest – US Crude Trying to Nudge Higher After Another Week of Heavy LossesThe Euro continues to hold the high ground against the Greenback following Tuesday’s explosive move to the upside. EURUSD is currently trading between two key levels with support provided around the 1.0840 handle and resistance at the 1.0900 mark. Recommended by Zain Vawda Get Your Free Top Trading Opportunities Forecast US DATA WEAKENSMacroeconomic data from the US continued its less than impressive prints this week with both initial jobless claims and Industrial Production coming in worse than expected. Initial jobless claims rose…